Cash woes? A personal loan to the rescue!
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    OCBC Cash on Instalment

     Cash-on-Instalments lets you earn extra money by converting your credit limit in your OCBC card or EasiCredit Account into fixed instalments each month. The tenure that you can choose from is between 1 and 5 years. Once your loan is approved, the funds will get credited to your selected bank account.

    Benefits

    • You can enjoy a 0% interest rate every year (EIR 11.47% per year) if you select the 12-month instalment plan.
    • You can enjoy a low one-time handling fee of 2% of the sanctioned loan amount.

    Interest Rates

    The table below shows the interest rates on a loan of S$10,000:

    Repayment tenure 60 months 48 months 36 months 24 months 12 months
    Yearly interest rate 5.80% 0%
    Handling fee 2% of the sanctioned loan amount 6% of the sanctioned loan amount
    EIR (Effective Interest Rate) 11.38% 11.71% 12.11% 12.80% 11.47%
    Monthly repayment (S$) 215 256.67 326.11 465 833.33

    Promotion

    Till 31 March 2018, apply for this repayment plan online and get CapitaVouchers of up to S$320 on the basis of the approved loan amount. The table below shows the voucher you will get depending on the loan amount:

    Approved loan amount Vouchers
    From S$8,000 to S$15,999 CapitaVoucher of S$80
    From S$16,000 to S$23,999 CapitaVoucher of S$160
    From S$24,000 to S$31,999 CapitaVoucher of S$240
    More than S$32,000 CapitaVoucher of S$320

    To know more about this promotion, please read the full terms and conditions on the bank’s site.

    Fees and Charges

    Processing fee 2% or 6% of the sanctioned loan amount, depending on the tenure.
    Administrative fee S$100

    Eligibility

    Minimum age: 21 years old

    Minimum annual income:

    • S$20,000 and above for Singaporeans/PRs
    • S$45,000 and above for foreigners

    How to Apply

    There are 2 ways to apply for this instalment plan:

    • You can fill in the online application form and submit it to the bank.
    • You can send a text space space to 72222.

    FAQs

    1. Q. What is the minimum request amount for this plan?

      A. The minimum request amount is S$1,000. The amount should not be more than 90% of your available credit limit on your EasiCredit or credit card account.

    2. Q. What is the overdue interest rate on EasiCredit account?

      A. If you fail to pay the instalment amount by the due date, an interest rate of 19.98% p.a. will be applicable on the outstanding amount.

    3. Q. What is the overdue interest rate on OCBC credit card account?

      A. If you fail to pay the billed amount in full within the due date, an interest rate of 25.92% p.a. will be applicable on the outstanding amount.

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